Former Japan central banker warns Facebook's Libra may undermine monetary policy

From reuters.com

Central banks may see the impact of their monetary policies diminish significantly if Facebook’s Libra cryptocurrency becomes widely used in their countries, a former Bank of Japan executive warned on Friday.Global policymakers have raised alarm over Facebook Inc’s (FB.O) plan to issue Libra, concerned that the tech giant’s ambitions for a new global cryptocurrency may weaken their control over monetary and banking policies. “If Libra becomes more widely used than the sovereign currency of a particular country, the effect of monetary policy may be severely undermined,” said Hiromi Yamaoka, former head of ... (full story)